I think you are right, the best party sound I've heard is defiantly Munt or Munt link ups but they are the exceptional parties most of the time you are in a warehouse where the roller blinds vibrate, the sound is fucked up by badly shaped rooms, poorly divided halls will very high ceilings. Most parties don't sound all that good. There are just some rigs who have played some places where they sounded fucking awesome.
However these are dance music rigs, they tend to lack sensitivity in the low range; they are almost all set up for mono both high and low most of the time so techno rarely sounds like it does in my bedroom. That isn't to say that they are worse than clubs though, I was seriously not impressed by Lost/SE1 though again even bad buildings starting sounding much better when they are full of people to mop up the sound.